KPIT posts Rs 36 cr net profit in Sep quarter
Tech firm KPIT on Wednesday reported Rs 35.9 crore consolidated net profit for the September quarter this fiscal. The company had posted Rs 30.6 crore net profit in the preceding three-month period.
Its revenue from operations was Rs 544 crore for the quarter under review as compared to Rs 505.7 crore in April-June 2019, according to a regulatory filing. The numbers are not comparable on year-on-year basis. Last year, CK Birla Group-owned Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players.
After the demerger, the engineering business was incorporated on January 8, 2018, and listed on the BSE and the NSE as KPIT Technologies in April 2019. "We continue to experience robust growth and have yet again delivered industry leading y-o-y growth of 17 per cent in constant currency terms for Q2 FY20. We continue to focus on high growth and profitability," KPIT co-founder, CEO and MD Kishor Patil said.
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